Administrators confirm 55 jobs lost at Alston steel company

Administrators have confirmed that 55 staff members have been made redundant at a steel company with a factory in Cumbria.

Bondshold Ltd - which has sites in Crook, County Durham, and Alston - has called in administrators after suffering problems in the wider steel market.

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Clare Boardman, joint administrator said: “We remain in active discussions with a number of parties who have expressed an interest in parts of the Group, however sadly it has not been possible to find a buyer for the Group as a whole.

"The lack of certainty with regard to a sale, alongside reduced trading potential, means it is not possible for the Group to continue to operate in its current form. Therefore, the difficult decision has been made to effect redundancies.

“We are working with the local Government agencies and our specialist teams to ensure that all of the employees affected by redundancy and those that remain within the business are fully supported at this difficult time."

The company was established in 1868 and employs 219 staff in Crook, Alston and Scunthorp.

It was once rated one of the UK's fastest-growing companies for international sales in 2017.